New Consumer Goods research report from Euromonitor International is now available from Fast Market Research
Boston, MA -- (SBWIRE) -- 06/11/2014 -- Air treatment products continued with post-recession growth in 2013, by registering 7% volume growth and 16% current value growth. The most-popular categories in air treatment products are cooling fans (66% volume share) and split air conditioners (29% of volume sales). Sales within this category are very much correlated with the average temperature during the summer, and hotter-than-average temperatures drive volume sales. Split air conditioners are also used for heating purposes, especially in the southern coastal areas where winter temperatures are relatively high. The high cost of natural gas also encourages consumers to use their split air conditioners as supplemental sources for heating in the inland and northern parts of the country. Cooling fans are preferred for their lower prices and practicality as they can be stored in cabinets or cellars during the time they are not needed.
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Arcelik led air treatment products in 2013 with a 39% volume share. The company serves the country with three different brands: Arcelik, Beko, and Altus. In addition to its wide presence within the category with a rich product portfolio, the company particularly owes its share to its strong position in air conditioners, where it recorded a 53% volume share in 2013. While Altus' product portfolio is limited to single-split air conditioners, Arcelik and Beko offer rooftop and cassette formats within air conditioners in addition to single and multi-split formats. Arcelik's collaboration with LG, embodied in the Arcelik-LG Klima AS, helped the company to advance its technology to a level to compete with strong international rivals, such as Mitsubishi, Toshiba, and Samsung. Arcelik was able to secure a strong share within air conditioners through its effective use of technology to manufacture energy-efficient products.
Over the forecast period, value sales of air treatment products are expected to grow at a constant CAGR of 10%, while volume sales are set to grow at a CAGR of 7%. The higher figure for value growth is because prices will be driven up by the introduction of advanced cooling fans and energy-efficient split air conditioners. The increase in unit prices due to energy-efficiency restrictions will be justified by the lower energy consumption of such products, as reflected in electricity bills.
Discover the latest market trends and uncover sources of future market growth for the Air Treatment Products industry in Turkey with research from Euromonitor's team of in-country analysts.
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